GlobeNewswire Inc. · Jun 26, 2023
VectivBio Extraordinary General Meeting of Shareholders Approved All Proposals
BASEL, Switzerland, June 26, 2023 (GLOBE NEWSWIRE) -- VectivBio Holding AG (“VectivBio”) (Nasdaq: VECT), a global clinical-stage biopharmaceutical company pioneering novel, transformational treatments for severe rare gastrointestinal conditions, announced that today's extraordinary general meeting approved each of the proposals of the Board of Directors, which satisfied one of the pending conditions to consummating the tender offer by Ironwood Pharmaceuticals, Inc. (“Ironwood”) to acquire all of VectivBio's outstanding registered ordinary shares for $17.00 per share in cash (subject to deduction for any applicable withholding taxes). Consummation of the tender offer remains subject to the tender of more than 80% of the total number of VectivBio’s outstanding registered ordinary shares and the other conditions described in the tender offer statement.
